Question

Tina has to pay 4 percent of the purchase price toward closing costs for her mortgage. If the purchase price is $275,000, what is the closing cost amount?
$11,000
$15,250
$110,000

Answer 1

errr....4% of the purchase price......

Answer 2

It's 11,000 because 275,000*0.04=11,000. You multiply it by 0.04 because that way you get four percent of the original number.